Bookkeeping Fundamentals - NPO

Question❓ I registered my business in the year # # . It never operated, I usually just transfer a certain amount of money to keep the business account active. I received a notification from SARS that I am required to file the returns. Will they not tax me on the money that was not generated by the business?

Answer ✨: If you have / find a great accountant - they will not charge you tax based on the capital money deposited into the business.

It is advisable that the Annual Financial Statements be prepared so as to show that the owner 's money was utilized to cater for the business expense i.e. the bank charges

The reason why the above is important is that the prepared AFS will be used as the supporting documents for the submission of the tax return.

The AFS will indicate that there was no income received thus no tax will be charged. The capital amount will sit on the balance sheet section of the reports.

Some may advise that you proceed with filing nil returns. What happens when an audit arises and you are expected to justify the transactions on the bank account?

Make you think nhe? 🤔😉



Let's have a lengthy discussion about this and many other compliance issues

📆: Friday, 19 May 2026
⏰: 09:00AM - 02:00PM
📍: 21 Woodlands Drive Building 2 Country Club Estate
Woodmead, Sandton - 2191
👨🏿‍🏫: Ms. Dikeledi R. Seoloane - Registered Accountant and Tax Practitioner. Founder of Matsobanemetja Business Consulting - The Accounting Firm | matsobanemetja_bc - www.matsobanemetja.co.za

⏳Event Details :
FREE BUSINESS COMPLIANCE WORKSHOP - FINANCE 🌱
https://www.facebook.com/share/18iT8TH3Dm/

To RSVP:
📧: [email protected]
📞/📱: 060 705 2488 / 082 770 4508

It is FREE & Seats are limited!!

..............................................................

Reminder: It is happening this Friday, please remember to book your seat

FREE BUSINESS COMPLIANCE WORKSHOP - FINANCE

To RSVP please send an email to 📧 :[email protected]

It will be nice hosting you

Bookkeeping Fundamentals - NPO 🍃

Tax payers i.e. professionals, organisations and SMMEs are still not paying attention❗

Do not 🚫 underestimate the importance of separating your business finances from personal.

Earning an additional Income and not declaring to the taxman ⚠️ [SARS]

Come and learn the disadvantages of not complying and the advantages thereof.

We will be discussing the following:

- Data entries | Bookkeeping

- Business compliance [SARS & CIPC]

- Invoicing

- Financial report

- VAT

In addition: All other business queries will be responded to live ✍🏿

📆: Friday, 19 June 2026

📍: 21 Woodlands Drive Building 2 Country Club Estate
Woodmead, Sandton - 2191

Event Details ⌛https://www.facebook.com/share/18iT8TH3Dm/
FREE BUSINESS COMPLIANCE WORKSHOP - FINANCE

For reservation and inquiries:
📧: [email protected]
📞/📱: 060 705 2488 / 082 770 4508

It is FREE & Seats 🪑 are limited

See you 🔜 😍

Dear Business Owner ✍🏿
- By all means please keep the business receipts ❗

⚠️Thinking you DON’T have to keep your receipts ❌

I have heard this time and time again from Business Owners telling me that their Accountant told them they do not have to keep receipts. This is untrue and according to SARS receipts are required. If you were ever audited on your Business Expenses and did not have the proper receipts, your deduction could be disallowed!

Please keep your receipts!

There are several online softwares you can use to help you. Most Accounting Softwares (Quickbooks, Wave, Xero, etc) has receipt keeping features where you can snap a picture and the receipt will attach to your expense transaction. Google Drive is also a great free feature where you can download the Google Drive app and take the receipts there. Whatever option you chose, just make sure that when you take the receipt and all necessary information is there such as the Date, Amount and Category.

These are simple, yet common mistakes Business Owners make regarding their Bookkeeping. As the great late Maya Angelou says, “When you know better, you do better.”

Let's discuss further live
FREE BUSINESS COMPLIANCE WORKSHOP - FINANCE
https://www.facebook.com/share/1Dg68CdpHJ/

📆: 19 June 2026
⏰: 09:00AM - 02:00PM
To RSVP 📧: [email protected]

See you soon 🔜 💚

Bookkeeping Fundamentals - NPO 🌱